Section Nine - Government

Question 1

Government

Answer 1

An institution or system made by a group of people that takes care or manages a country or state

Question 2

Responsibilities of the Government

Answer 2

Public Safety
Economic Management
Essential Services
Revenue Generation
Regulation of Business

Question 3

Taxes

Answer 3

Compulsory financial contributions imposed by the government on individuals, businesses, and other entities to fund public expenditure and government activities

Question 4

Subsides

Answer 4

Financial aid or support provided by a government or organization to assist certain industries, businesses, or groups

Question 5

Three reasons for taxation

Answer 5

To protect local and infant industries by taxing imports

To generate revenue for government expenditure

To redistribute income through expenditure on social welfare programs

Question 6

Government assistance offered to businesses

Answer 6

Financing
Tax concessions
Subsides

Question 7

Ways in which Governments use the money collected from taxation

Answer 7

Public services
Social programs

Question 8

Three reasons why governments impose taxes

Answer 8

Revenue generation
Economic stabilization
Redistribution of wealth

Question 9

Essential services governments are responsible for providing

Answer 9

Healthcare
Education

Question 10

What do governments in the Caribbean subsidize

Answer 10

Food and agriculture
Education

Question 11

Progressive taxes

Answer 11

A type of taxation where the rate of tax increases as the taxable amount or income rises

Question 12

Regressive taxes

Answer 12

A type of taxation where the rate of tax decreases as the taxable amount or income increases

Question 13

Two ways in which governments in the Caribbean attempt to regulate business activities

Answer 13

Legislation and Regulation
Taxation Policies

Question 14

Apart from taxation, what are two other sources governments obtain revenue to perform their roles

Answer 14

Government-Owned enterprises
Borrowing